Today's Big Stories

Sars sees record tax returns, Is it a Ponzi scheme?, Lead SA-GIBS on Mandela Day

Sars' tax season off to a high start with record number of returns seen

Heard on CapeTalk's Breakfast with Kieno Kammies: the South African Revenue Service (Sars) reported that over 171 000 tax returns were submitted on the first day of tax season – an increase of 5.7% from the previous year. Sars Commissioner Tom Moyane says that the high number of tax returns so far is more remarkable given the fact that the threshold for submitting income tax returns this year has increase from R250 000 to R350 000. Sars' group executive for escalation and support, Mark Kingon:

That's all taxes - VAT, customs, transfer duty and down to lots of other taxes that make that up. It's around R1,1 trillion, so it's a lot of money. (On increasing the ceiling for tax return submissions) last year it was R250 000, this years it's R350 000 per annum for people who have single salary employment for a full year, they've got no deductions to claim - it's where the employer has basically put the proper Pay As You Earn (PAYE) on their account, essentially, you don't have to submit if you earn less than R350 000.

How would you identify and avoid a Ponzi scheme?

Image: macedoniaonline.eu

Heard on 702's John Robbie Show: following news that the online stokvel Wealth Hub had its five bank accounts frozen and declared illegal after suspicion that it was a Ponzi scheme, listeners phoned in raising alarm on another Ponzi scheme reportedly run by Chris Walker, called Kipi Investments. Deputy Executive Officer at the Financial Services Board, ​Caroline da Silva:

We were alerted partly through the media and also through customer complaints of customers who started failing and receiving their returns. It is a Ponzi scheme and when you ask how do customers know about whether their money is safe or if it's a Ponzi scheme, the first indicator for me is always - it sounds too good to be true. And they also rely on new investors all the time because they pay old investors out of new investors' money. The third thing which is very frustrating is they are very clever at taking advantage of regulatory arbitrage or finding regulatory gaps. (On stokvels) you should know that the Kipi scheme isn't a stokvel because stokvels are very limited to their invitation groups. We've been investigating Kipi and we have a lot of concerns about them and have put out media releases to the public warning that it is not a registered scheme and it is not regulated by any financial services board or by the Reserve Bank and the customers should be careful.

Lead SA, GIBS and UCT's GSB to provide leadership coaching for Mandela Day

Heard on 702's John Robbie Show: an initiative targeting NGO's, business people and entrepreneurs that are invested in tackling some of South Africa's big social issues including literacy, healthcare and education amongst others, will be offered a unique opportunity linked to Mandela Day this year. In partnership with Lead SA, the Gordon Institute of Business Science (GIBS) and UCT's Graduate School of Business will provide 67 minutes of one-on-one coaching with an expert to selected participants, discussing issues they are met with and providing some level of mentorship in leadership. GIBS' Head of Personal and Applied Learning, Alison Reid says they are looking to provide an advisory service and a thinking partnership which will be of assistance from a leadership perspective:

We see this initiative as putting heads together, quite literally - we're hoping to help NGOs who are working on some very critical social areas of challenge like literacy, healthcare, education, etcetera; making a real difference. So this is about packaging the organisation's challenges and helping them to work more efficiently, using coaching which is a thinking partnership and a process of helping them to think through those challenges, to help them lead better.

_To participate in this cost-free initiative, go to the Lead SA website here and apply


This article first appeared on 702 : Sars sees record tax returns, Is it a Ponzi scheme?, Lead SA-GIBS on Mandela Day


CapeTalk welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the CapeTalk community a safe and welcoming space for all.

CapeTalk reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

CapeTalk is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
Veterans and ANC not on same page about terms of consultative conference

Veterans and ANC not on same page about terms of consultative conference

ANC vets want civil society groups present at the consultative conference, which they want held separately from another meeting.

Top SABC journos applauded for brave testimony

Top SABC journos applauded for brave testimony

EWN's Gaye Davis summarises the evidence of the SABC journalists who appeared before the ad hoc committee in Parliament.

If you're gona be a hero (and smash a car window), make sure you can prove harm

If you're gona be a hero (and smash a car window), make sure you can prove harm

A criminal lawyer explains what leg citizens can stand on if they witness a child or pet locked in a vehicle in risky conditions.

SABC 'in contempt of court' if Motsoeneng reports for duty, says DA

SABC 'in contempt of court' if Motsoeneng reports for duty, says DA

The DA's James Selfe says it is not clear whether SABC's Hlaudi Motsoeneng will be either fired or suspended pending an inquiry.

Tweeps throw shade as court shows Motsoeneng the door

Tweeps throw shade as court shows Motsoeneng the door

A judge has ruled that Hlaudi Motsoeneng should not hold any position at the SABC and Twitter has wasted no time reacting.

Why family traditions matter

Why family traditions matter

Whether it's breaking bread or celebrating through song and dance, family rituals and traditions can create a sense of belonging.

Popular articles
Predictably awesome new Nando's ad reminds South Africans ‘we can fix our sh$t’

Predictably awesome new Nando's ad reminds South Africans ‘we can fix our sh$t’

Watch the Guptas pack their bags and run in Nando's inspiring new advertisement.

PSG Chair Jannie Mouton opens up (kind of) about Steinhoff

PSG Chair Jannie Mouton opens up (kind of) about Steinhoff

In 2012 Steinhoff acquired 20% of wealth manager PSG, reportedly infuriating Mouton. Bruce Whitfield interviews him.

[LISTEN] Sara-Jayne King overjoyed at finding her biological father

[LISTEN] Sara-Jayne King overjoyed at finding her biological father

After a 702/ CapeTalk interview, the author of the autobiographical book Killing Karoline spoke to her dad for the first time.

[LISTEN] Caller challenges Eusebius on land disposition

[LISTEN] Caller challenges Eusebius on land disposition

‘I need you to provide me with an answer' - John from Edenvale, Gauteng

Number of South Africans visiting the seaside has dropped

Number of South Africans visiting the seaside has dropped

Fedhasa's CEO is encouraging South Africans to take a look at the specials that are currently out there and make their bookings.

How businessman Max Lichaba struck gold with his jewellery company

How businessman Max Lichaba struck gold with his jewellery company

Entrepreneur Max Lichaba built his own empire and is the CEO of Lichaba Creations and several other businesses. This is his story.